WHOOP Closes A $100 Million Series E Financing
By Taruka Srivastav | October 29, 2020
WHOOP, the human performance company, has closed a $100 million Series E financing at a $1.2 billion valuation led by IVP.
Participating investors include SoftBank Vision Fund 2, Accomplice, Two Sigma Ventures, Collaborative Fund, Thursday Ventures, Nextview Ventures, Promus Ventures, Cavu Ventures, D20 Capital, and LionTree Partners. Professional athletes investing include 2x NBA Finals MVP Kevin Durant (via ThirtyFive Ventures), 11x Pro Bowler Larry Fitzgerald, Super Bowl MVP Patrick Mahomes, 2x Super Bowl MVP Eli Manning, 4x Major Champion Rory McIlroy, and Major Champion Justin Thomas.
This new round of investment follows a period of tremendous growth for the WHOOP membership and overall business, and it will unlock new opportunities for the company. WHOOP will primarily invest these new funds in product and software development, global expansion, and membership services.
“We will continue to make WHOOP the best product experience for measuring and improving health,” said Will Ahmed, WHOOP Founder & CEO. “Human performance is a new category and WHOOP has emerged as both the pioneer and market leader. We’re proud to partner with IVP and other prominent investors who share our vision.”
WHOOP is a monthly subscription for 24/7 health monitoring across sleep, recovery, strain, and more. The WHOOP membership includes free hardware (WHOOP Strap 3.0) and a coaching platform designed to optimize behavior. Studies show that after a year on WHOOP, members experience longer and more consistent sleep, improved physiology, enhanced physical performance, and meaningful lifestyle changes.
“WHOOP has built best-in-class wearable technology and an aspirational brand that have propelled the company to an impressive period of hypergrowth,” said Eric Liaw, General Partner at IVP, who has joined the WHOOP Board of Directors. “We are excited to partner with a strong leadership team as WHOOP continues to revolutionize the market for human performance.”